$20M Arizona Power Center On The Block

An Arizona retail power center is on the market for $20 million, with an 8.1%market capitalization rate. Sierra Vista SW, a Phoenix-based partnership, is selling the center and Marcus & Millichap is marketing the property.

The 227,149 sq. ft. Plaza Vista Mall, originally constructed in 1988, is the dominant power center in the shopping region, according to Marcus & Millichap. The seller recently replaced anchors Miller's Outpost, Beall's and Fashion Bug with Marshall's and Greenbacks. Other tenants include Wal-Mart, Payless Shoes, Wells Fargo, Subway and Radio Shack.